The Moulton Sarasota Real Estate Report – February 2019

Inching Toward a Balanced Market

The Sarasota Real Estate Market has been inching toward what the industry refers to as a “balanced” or “normal” market for the last five years. February’s sales and inventory activity brought us even closer to this equalized condition, in which neither buyers or sellers are in an advantageous position.

Nationally and in our own region we experienced nearly 7 years of a buyer’s market after the downturn started in 2007, we then had nearly 7 years of a seller’s market when inventory was not keeping up with rising demand, and we are finally entering a more stabilized period.

The signs of a balanced market are just what our statistical reporting has indicated we were approaching these last several months: a slowing of transactions, increased inventory available, narrowing of list-to-sale prices and median sales prices are rising at a slower pace.

I have seen first-hand an increase in the number of my clients who had been waiting on the side-lines to list their home for fear of not finding a suitable place to move. These would-be sellers finally have confidence that there is ample supply and are moving forward.

At the same time, the number of buyers entering the Sarasota Real Estate Market is as active as I have ever seen, and for the first time in recent memory I can find a quality portfolio to present that will allow them several options from which to choose, in excellent condition and in their prime locations.

However, the savvy buyers who have been waiting the last few years to pursue their new properties are ready to buy now and I’m beginning to see deals lost because the best are going very quickly…including several recently that never made it to full listing before going under contract.

Whether a buyer or seller in the Sarasota Real Estate Market, this is an excellent time to be making your move. Sellers are motivated to get into their next property and buyers are equally driven to move. As an experienced broker-realtor in the Sarasota market for more than 35 years, I have seen my fair share of cycles – this is something we have been expecting for some time and the stability is welcome.

With interest rates expected to remain low, consumer confidence strong, and new construction on the rise, I expect the months ahead to continue a slow and steady growth.

And now for my statistical report on the February Sarasota Real Estate Market activity:

Sales

Total Sarasota Real Estate Market dollar volume of $339.3 million in February decreased by $19.3 million from the same month a month ago.

Broken down, single-family sales were $236 million and condominium sales were $103.3 million.

The number of properties sold in February was 870, only 14 less than a year ago. The sales total includes 593 houses and 277 condos.

The 2018 monthly average for sold properties in Sarasota was 1,001.

Florida’s single-family sales increased 1.9% and condo sales were down 5.7% compared to prior year. Homes sold for in excess of $1 million fell 11.5% and condos 13.2%.

U.S. sales fell with single-family sales declining 1.4% and condo down 5%.

Of the closed sales in Sarasota last month, 37 were for over $1,000,000, 25 were houses and 12 were condominiums.

In 2018 Sarasota averaged 29 house sales and 17 condo sales per month for over a $1 million sale price, a small portion of our overall sales.

Listings that went pending the past month were 1,118 and decreased by 83 transactions from the same month last year, though were 64 more than January.

For 2018 the monthly average for pending sales was 1,031.

Florida’s single-family pending sales were equal to last year and 3.1% fewer condo contracts were written compared to last year.

U.S. pending sales have fallen the last 14 months, in February down 4.9% compared to prior year.

Prices

In February, Sarasota’s single-family homes were sold at a median price of $287,700, an increase of 5.3% over prior year.

The 2018 monthly median price for houses sold was $281,662.

In February, Florida median price for single-family homes was $250,500 a 1.3% increase over last year.

The national median price for existing homes grew by 3.6% to $251,400.

The condominium median sale price in Sarasota was $242,000 in February, up 10.5% over last year.

The 2018 monthly median average was $230,989.

Median price for a Florida condo last month was $187,500, a 4.7% increase over February 2018.

U.S. median condo price grew to $233,300, a 3.1% increase.

Sarasota houses sold for $397,980 on average in February where the 2018 monthly average was $384,110.

Condominiums sold for an average price in February of $373,070. The condominium monthly average sale price sold in 2018 was $355,047.

Inventory

Currently there is available inventory of 5,749 properties for sale in Sarasota County. There were 5,401 at the end of 2018 and 4,401 at the end of 2017.

Of the available inventory for sale, 728 properties are listed for over $1 million or only 12.6%. 541 of the active listings over $1,000,000 are houses and 187 are condominiums.

Sarasota County had 1,507 new listed properties in February. The local market averaged 1,289 new listings in 2018. Of the new listings the past month 119 properties were listed over $1,000,000.

Current inventory results in 5.4 months of single-family homes for sale in Sarasota and 6.5 month’s supply of condominiums.

Florida currently has 4.3 months of single-family inventory and 6.4 month’s supply of condominiums. Inventory of properties selling for over $1 million have increased more than 10% over last year.

U.S. inventory of all housing types is sitting at 3.5 months of supply.

Having served clients in The Sarasota Real Estate Market for more than 37 years and carefully watching and examining business conditions, I have developed essential insight to aid both buyers and sellers in achieving their objectives in today’s shifting real estate market.

The value of partnering with a highly experienced, locally as well as globally connected agent/broker, and a skilled negotiator and advocate cannot be understated. I look forward to working with you, your family and friends in achieving your goals in acquiring or selling your property.

Michael’s Featured Listing:

SOLD! Longboat Key Waterfront Condominium – Grand Bay

Congratulations to my selling clients on the closing of their beautifully remodeled Longboat Key waterfront condominium. Sold for $925,000.

The residence has three full bedroom suites, and open living areas all with sweeping views of Sarasota Bay and magical sunsets over the Gulf of Mexico.

Grand Bay is one of the most sought after residential communities on Longboat Key. A secure elevator entry leads to your private foyer opening to a large living area with floor-to-ceiling glass overlooking the vast wrap around terraces and glorious vistas.

This corner residence with 2,250 square feet has a master suite with easy terrace access, Jacuzzi tub, his and her water closets, and oversize walk-in closet. Boasting 9’ ceilings, wood floors and top-quality appointment, this condominium is move in ready.

Grand Bay is truly the jewel of Sarasota Bay condominium living on the Longboat Key waterfront, located within Bay Isles, part of Longboat Key Club, which includes the beautiful 27-hole Harbourside golf course and tennis club. The Grand Bay community has 24-hour manned gate, four Har-Tru tennis courts, fitness center, spacious clubhouse, library, social room, heated swimming pools and spas. It has unsurpassed building and grounds maintenance, strong financial reserves and excellent social activities. Each resident also enjoys deeded access to the gorgeous Longboat key Beach via the private Bay Isles Beach Club.

The Moulton Sarasota Real Estate Report – January 2019

Sales Activity Shrinks Again

For a second month in a row the Sarasota Real Estate Market saw a dip in number of transactions. For those that read my report last month, much of the same applies – there were several newly built luxury condominium projects that were completed in the late fall 2017 and early winter 2018. The closings and buyer move-ins occurred mostly through the first quarter of 2018. January 2018 condominium sales grew by more than 60% over prior year. For condos over $1 million in price there were 35 units sold in January 2018 compared to this year’s 11, which is more typical of this month’s activity in past years.

When reviewing total dollar volume of transactions in January, single-family sales was nearly equal to last year, while condominium sales volume fell by 50% this year. I see this as more evidence of the effect that the new buildings had on the overall market. With a number of new luxury condominiums already under construction, I expect this same upshot when the time comes to occupy them over the next two-three years.

The Sarasota Real Estate Market has maintained a healthy price appreciation, though it is showing signs of deceleration. The softening of price appreciation is most likely a result of the activity in new listings. Inventory is nearing the theoretical balanced market when neither buyers or sellers are favored, which is encouraging sellers to take a closer (and more realistic) look at comps to price their properties to sell.

In reviewing our regional, state and national real estate market reports, it is my opinion that the Sarasota Real Estate Market remains extremely well positioned to continue a steady growth trajectory through the year ahead. I have seen incredible growth in buyer interest so far this season, and believe that with consumer confidence remaining high, increased demand from states being affected adversely by the new taxation policies, interest rates staying low, and a stabilized market locally are all reasons to be optimistic.

And now for my statistical report on the January Sarasota Real Estate Market activity:

Sales

Total Sarasota Real Estate Market dollar volume of $264.7 million in January decreased by $82.9 million from the same month a month ago, a 24% decrease.

Broken down, single-family sales were $189.7 million and condominium sales were $75 million.

The number of properties sold in January was 678 which was 177 less than a year ago, a 21% decrease The sales total includes 460 houses and 218 condos.

U.S. pending sales have fallen the last 12 months, in January down 2.3% compared to prior year.

For 2018 the monthly average for pending sales was 1,031.

Prices

In January, Sarasota’s single-family homes were sold at a median price of $286,600, an increase of nearly 4%. The 2018 monthly median price for houses sold was $281,662.

In January, Florida median price for single-family homes was $249,900 a 4.1% increase over last year.

The national median price for existing homes grew by 3.1% to $249,400.

The condominium median sale price was $240,000 in January, nearly equal to last year. The 2018 monthly median average was $230,989.

Median price for a Florida condo last month was $182,500, a 2.8% increase over January 2018.

U.S. median condo price was up nearly equal to last January, $233,000.

Houses sold for $412,457 in January and the monthly average sale price for houses sold in 2018 was $384,110.

Condominiums sold for an average price in January of $344,209. The condominium monthly average sale price sold in 2018 was $355,047.

Inventory

Currently there is available inventory of 5,612 properties for sale in Sarasota County. There were 5,401 at the end of 2018 and 4,401 at the end of 2017. We are heading towards a buyer’s market with the rising inventory. This will give buyers more choices and puts pressure on a seller to be conscious of not overpricing their property relative to market values.

Of the available inventory for sale, 696 properties are listed for over $1 million or only 12%. 516 of the active listings over $1,000,000 are houses and 180 are condominiums. Based on the past months 40 sales over $1 million this amounts to 17 months of inventory.

Sarasota County had 1,926 new listed properties in December, a significantly higher number than any month in the past couple years. The local market averaged 1,289 new listings in 2018. Of the new listings the past month 156 properties were listed over $1,000,000.

Current inventory results in 5.4 months of single-family homes for sale and 6.1 month’s supply of condominiums. Each month lately has seen this number close in on becoming a balanced market, favoring neither buyers or sellers.

Florida currently has 4.3 months of single-family inventory and 6.3 month’s supply of condominiums. Inventory of properties selling for over $1 million have increased more than 9% over last year.

U.S. inventory of all housing types is sitting at 3.9 months of supply.

In today’s somewhat confusing and often volatile economic environment it is easy to become a bit anxious. Having served clients in The Sarasota Real Estate Market for more than 37 years and carefully watching and examining business conditions, I have developed essential insight to aid both buyers and sellers in achieving their objectives in today’s shifting real estate market.

The value of partnering with a highly experienced, locally as well as globally connected agent/broker, and a skilled negotiator and advocate cannot be understated. I look forward to working with you, your family and friends in achieving your goals in acquiring or selling your property.

The Moulton Sarasota Real Estate Report – December 2018

So, What About the Sales Decline in December?

It has been well reported since the data from Sarasota Real Estate transaction sources released their month-end results that indeed the number of contracts signed in December declined 26%, with the largest percentage of decrease in the condominium sector. In addition, price increases were less than prior months this year in single-family sales, and in condominium sales, again a considerable drop of 12%. Pending sales in the condo segment also fell nearly 36.9%

While all the above statistics sound a bit startling, we need to look back to last year’s events to determine what may have been in play at that time. December 2018 had one of the highest closing months that I recall…in very large part to the completion and closings at The Vue, in downtown Sarasota. There were 47 condominiums sold over $1 million last December (40 0f them at The Vue,) and this year, just six sold in the Sarasota market.

We cannot underestimate the effects of slowed traffic from tourists – often our source of buyers – during the months of August, September and October, when those signing contracts in December would normally have been in our market. As we all remember, Red Tide was tormenting not just the hotel occupancies in the region, but also, as a result, number of available buyers who seemed to put off their search in favor of waiting until the effects subsided. Our hope is that those same buyers will return to the game and, now that inventories have also grown, we will see a healthy spring season ahead.

One other event that would have affected the middle and lower prices tiers was the rising interest rate in October and November. Again, many of those interested buyers who would likely have closed on homes in December put their search on hold. Now that rates for 30-year fixed rate mortgages have fallen back to 4.64% and the Fed has indicated a strategy for 2019 that may only involve two moderate increases, hopefully those interested buyers will also return to their searches.

I have mentioned the amazing numbers of millennials coming into the housing market before. This population is now in their late-30’s many with established careers and stable incomes, and are ready to put down roots and build home equity. The largest population since the baby-boomers will help to stabilize the mid-market tiers in the next few years.

The demand for new homes remains high and our area builders are responding to it as best they are able in the tight employment conditions. A recent report from Metrostudy for the Sarasota-Bradenton market indicated that new home starts year-over-year grew by 9.8%, and in the 4th quarter of 2018, closings were up 23.4% over previous year. With news of the start of several new communities and additional condominium projects throughout the Sarasota Real Estate Market, I am confident that this fresh product will help to fill the strong demand.

In addition, with the softening of sales, our existing-homes and condo inventories have been allowed to grow to levels that narrow the gap between number of buyers and sellers, giving those seeking a new property more to choose from, and those selling less chance of returning to double-digit price growth as we had seen for much of 2018.

Since early December, I have been incredibly busy responding to both sellers looking to list their properties, and to buyers who are eager to get something under contract. This has been one of my busiest two-month stretches that I remember in a while. The effect of the new tax laws on northeasterners and some mid-western states and continued tax pain in California, has created a flow of buyers, especially at the higher end of the market, that has grown exponentially. After speaking to my colleagues and hearing similar accounts of client interest, it gives me confidence that the softening that we felt in December is not likely to continue in our peak selling months ahead.

And now for my statistical report on December Sarasota Real Estate Market activity:

Sales

Total Sarasota Real Estate Market dollar volume of $288.2 million in December decreased by $113.1 million from December a year ago though the 2018 sales volume increased approximately $220 million from 2017.

Broken down, single-family sales were $213.5 million and condominium sales were $74.7 million.

The number of properties sold in December was 767 which was 199 less than a year ago. The sales total included 527 houses and 240 condos.

The 2018 monthly average for sold properties in Sarasota County is 1,001 whereas the 2017 monthly average was 978, a nice average monthly increase of 2.4%.

Of the closed sales in Sarasota last month 37 were for over $1,000,000, 31 were houses and 6 were condominiums. Sarasota averaged 29 house sales a month for over $1 million and 17 condo sales over $1 million.

Listings that went pending the past month were 673 and decreased by 222 transactions from the same month last year.

U.S. pending sales have fallen the last 11 months, in December down 9.8% compared to prior year.

For the year Sarasota averaged 1,031 pending sales per month vs. 1,043 in 2017.

Prices

In December, Sarasota’s single-family homes were sold at a median price of $285,000. The 2018 monthly median price for houses sold was $281,662 vs. $267,043 in 2017.

In December, Florida median price for single-family homes was $255,000 a 4.2% increase over last year.

The national median price for existing homes grew by 2.9% to $255,200.

The condominium median sale price was $220,000 in December vs. $250,000 a year ago. The 2018 monthly median average was $230,989 vs. $225,585 in 2017.

Median price for a Florida condo last month was $185,000, a 2.8% increase over December 2017.

U.S. median condo price was up 2.3% in December to $240,600.

The monthly average sale price for houses sold in 2018 was $384,110 vs. in 2017 it was $370,708.

Condominiums sold for an average price in December of $311,284 vs. in 2017 it was $480,239.

The condominium monthly average sale price sold in 2018 was $355,047 vs. in 2017 it was $362,378.

Inventory

Currently there is available inventory of 5,041 properties for sale in Sarasota County, there were 4,401 at the end of 2017, 4,595 at the end of 2016 and 3,598 at the end of 2015. This is the first time since March 2017 with listing inventory over 5,000 properties. With the rising inventory it will give buyers more choices and help keep list prices from rising too quickly. The most reasonable list prices to the comparables are always the first to sell.

Of the available inventory for sale, 634 properties are listed for over $1 million or only 12%. 462 of the active listings over $1,000,000 are houses and 172 are condominiums.

Sarasota County had 1,008 new listed properties in December. The local market averaged 1,245 new listings per month in 2017, and 1,289 in 2018. Of the new listings the past month, 73 properties were listed over $1,000,000, a small percentage of the overall available inventory for sale.

Current inventory results in 4.8 months of single-family homes for sale and 5.5 month’s supply of condominiums, both under the 6-month level considered a balanced market.Florida currently has 4.0 months of single-family inventory and 5.7 month’s supply of condominiums. Inventory of properties selling for over $1 million have increased about 8% over last year.

U.S. inventory of all housing types is sitting at 3.7 months of supply.

In today’s somewhat confusing and often volatile economic environment it is easy to become a bit anxious. Having served clients in The Sarasota Real Estate Market for more than 36 years and carefully watching and examining business conditions, I have developed essential insight to aid both buyers and sellers in achieving their objectives in today’s shifting real estate market. The value of a highly experienced, locally as well as globally connected agent/broker, and a skilled negotiator and advocate cannot be understated. I look forward to working with you, your family and friends in achieving your goals in acquiring or selling your property.

Michael’s Featured Listing:

SOLD! Enchanting en Provence on Longboat Key

Enchanting Longboat Key Gulf Front Condominium – SOLD

I’m pleased that my client’s Longboat Key Gulf-front en Provence residence with the most dramatic and enchanting water views has SOLD! My clients love this development so much they are moving to another condo there! SOLD for $3,362,500.

The gracious private elevator entry foyer welcomes residents and guests to a wonderful open floor plan with volume ceilings,sparkling Gulf views, and details such as crown moldings, and travertine marble floors throughout the main living areas, plus an 800 square foot wraparound terrace with built-in gas grill.

With over 3,400 square feet of private living on the beach, this residence has three bedroom suites, including Gulf facing master suite, two guest suites with balconies, large formal dining area, family room, living room, and fabulous kitchen with premium appliances, and abundant storage.

En Provence is an exquisite seaside hideaway with the ambiance of a private estate on the French Mediterranean, but here on the shores of Longboat Key. There are only 21 residences in three charming and elegant mid-rise buildings surrounding a resort style pool and spa, fitness center, concierge and clubhouse, gorgeous mature gardens all nestled right on the beach front.

En Provence is close to the Longboat Key Town Center with a variety shopping, a number of award-winning restaurants are only a short distance from the development, and it is a short drive to famed St. Armand’s Circle and downtown Sarasota.

October marked the first month of the year in the Sarasota Real Estate Market in which most of the data reflected a moderation in activity. While total units sold increased, single-family existing home sales saw a decline and the condominium market increased over prior year by more than 10%.

It is number of properties for sale where the most change occurred, with October registering the third highest volume of new listings this year. The growing inventory on the market will naturally begin to slow the pace of price appreciation. A growing number of properties coming to market is not unusual this time of year, as homeowners know that our peak selling season is getting underway. Many have spent the summer preparing their homes for sale, others believe that with rising interest rates and other factors, it is time for they themselves to get on with their next purchase.

Another of the Sarasota Real Estate Market indicators that I pay close attention to is the number of properties put under contract each month. Referred to as pending sales, this helps us to forecast what the activity may look like in the months ahead based on these contracts closing. October’s contract signing slipped from prior year. With a good deal of new product coming to market this year and last creating much of the activity, I do not see October’s slowing as an omen of softening sales in the months ahead, but more as a sign that conditions are becoming more balanced. I believe our market is healthy and will continue to grow, though at a moderate pace.

And now for my report on October Sarasota Real Estate Market activity:

Sales

Total Sarasota Real Estate Market dollar volume of $285.1 million in October decreased by $29.1 million from the prior year.

Broken down, single-family sales were $204.7 million and condominium sales were $80.4 million.

The number of properties sold in October was 866 which was 12 more than a year ago. The sales total included 598 houses and 268 condos.

The 2018 monthly year-to-date average for sold properties in Sarasota County is 1,036 whereas the 2017 monthly average was 966, a nice average monthly increase.

Of the closed sales in Sarasota last month 21 were for over $1,000,000, 17 were houses and 4 were condominiums.

Listings that went pending the past month were 906 and decreased by 56 transactions from the same month last year.

Florida’s single-family pending sales showed a similar pace with 4.7% fewer single-family homes and 7.6% more condo contracts written compared to last year.

U.S. pending sales fell 6.7% compared to prior year.

For the first ten months of 2018 Sarasota has averaged 1,088 pending sales. The monthly average of pending sales in 2017 was 1,043 and in 2016 it was 1,005.

Prices

In October, Sarasota’s single-family homes were sold at a median price of $270,000. The 2017 monthly median price average for houses sold in Sarasota was $267,043, about a 5% increase.

In October, Florida median price for single-family homes was $253,853 a 7.6% increase over last year.

The national median price for existing homes grew by 4.3% to $257,900.

The condominium median sale price was $233,745 in October vs. $224,000 a year ago. The 2017 monthly median average was $225,585.

Median price for a Florida condo last month was $180,000, a 5.9% increase over October 2017.

U.S. median condo price dropped a slight .2% in October to $236,200.

The average sale price for houses sold was $342,247 vs. the past year’s monthly average price for houses sold of $370,708.

Sarasota’s condominiums sold for an average price in October of $300,172 vs. the 2017 monthly average price for sold condominiums was $362,378.

Overall properties sold for 95.7% of the list price, a consistent ratio on a regular basis. The 2017 average for all properties sold was 95.6% of list price at the time of contract vs. the original list price.

Inventory

Currently there is available inventory of 4,490 properties for sale in Sarasota County, there were 4,401 at the end of 2017, 4,595 at the end of 2016 and 3,598 at the end of 2015.

Of the available inventory for sale, 568 properties are listed for over $1 million or only 12%. 422 of the active listings over $1,000,000 are houses and 146 are condominiums.

Sarasota County had 1,482 new listed properties in October. The local market averaged 1,245 new listings per month in 2017, and 1,304 year-to-date in 2018. Of the total new listings the past month, 116 properties were listed over $1,000,000, a small percentage of the overall available inventory for sale.

As mentioned in my reports through this year, inventories in The Sarasota Real Estate Market have fallen from a high of 5,015 properties for sale to the low of 4,020.

Current inventory is 4,490, resulting in just 4.3 months of single-family homes and 4.6 month’s supply of condominiums, both under the 6-month level considered a balanced market.

The single-family months of inventory has been consistent all year while the condominiums months of inventory continues to have a slight decrease each month.

Florida currently has 4.0 months of single-family inventory, up 9.8% compared to last year, and 5.5 month’s supply of condominiums, up 5.4% over last year and also close to a balanced market.

U.S. inventory of all housing types is sitting at 4.3 months of supply.

As always, I look forward to serving you, your family and friends with their real estate needs. It would be my pleasure to assist in reviewing your buying or selling needs and help to guide you to the best plan to achieve your goals.

I wish you a warm and wonderful Holiday Season!

My wife Katie and I regret the late delivery of the reporting of the Sarasota Real Estate Market results for the month of October 2018. As many of my subscribers know, Katie is the daughter of Murray (Murf) Klauber, the well-known founder of The Colony Beach & Tennis Resort on Longboat Key, visionary, innovator and community advocate, accomplished developer, and colorful and treasured friend to so many around the globe. Murf passed away on Thanksgiving evening after a day surrounded by his beloved family. In the weeks following we have been taking time to reflect on our great loss, and at the same time remember and celebrate his wonderful and full life, generosity and kindness, laughter and love. For those who did not know Murf, here is just one of many beautiful tributes, this one published in the Sarasota Herald Tribune. Please also see The Longboat Observer, Wall Street Journal and Longboat Key News for additional articles.

Michael’s Featured Listings:

Sarasota Real Estate Market Report – September 2018

The Moulton Sarasota Real Estate Report – September 2018

Summer Sales Maintain Momentum

The Sarasota Real Estate Market turned in another month of increased sales and prices, inventory expansion and considerable growth over prior year in pending sales in the month of September. Remembering that September 2017 had a major disruption with Hurricane Irma tracking through the state, we expected improvement over prior year. What we saw was not an extreme expansion, but rather a modest lift in sales and prices, yet again setting our regional market on a steady and sustainable course as we move into our busier selling season.

Last year’s hurricane event caused a double-digit drop in contract signings, so not surprisingly that statistic in September 2018 grew to a pace that, as you’ll see in the statistics below, was substantial.

New construction remains robust and is helping to meet demand in that segment, however existing homes and condominiums are still showing slim inventory for buyers in the market for established neighborhoods and buildings. A six-month supply of properties for sale is considered a “normal” market, in which home prices would be expected to rise at the same pace as GDP. With our inventories well below that standard, the Sarasota Real Estate Market has and will continue to have prices grow at a greater pace in the months ahead.

National economists are confident that sales and price growth will continue through 2019, though at a slower rate than we experienced in 2018. The Sarasota Real Estate Market is expected to maintain its rate of growth that typically beats data reported across the rest of the country.

Buyers who are planning to use a mortgage have seen an increase in rates this year, as has been well reported. In the luxury market where most of my transactions take place, the majority are paid in cash. However, in the last few years with historically low interest rates many couldn’t help but take advantage of the cost of money.

Buyers in other price tiers may feel that borrowing below or near 5% is objectionable, but if you take a look at the chart here (provided by Keeping Current Matters using data from Freddie Mac,) you’ll see that though you may have missed the lowest mortgage rates in modern history, you’re still experiencing very favorable borrowing conditions. Add to the attractive rates the easing of banking regulations for borrowing, conditions are still good for buyers wanting to use a mortgage for their purchase.

The stream of international buyers, demand coming from states facing harsh tax environments, and the large number of baby-boomers beginning their search for retirement properties, all lead to confidence in the Sarasota Real Estate Market’s potential to keep expanding. Based on my own buyer traffic and recent number of clients looking to list their properties, I am convinced that our peak selling season ahead will maintain the momentum that we have seen throughout 2018.

Many of my subscribers are outside the Sarasota area. With decades of experience assisting clients from across North America, I have developed a great network of some of the best realtors. Let me know if you’re contemplating selling and I’ll help you find a professional to work with in your community.

And now for my report on September Sarasota Real Estate Market activity:

Sales

Total Sarasota Real Estate Market dollar volume of $275.3 million in September increased by $12.7 million from the prior year.

Broken down, single-family sales were $194.8 million and condominium sales were $80.5 million.

The effects of Hurricane Irma on sales last year are remarkable when you see the year-over-year data for the entire state of Florida – single family sales volume grew 23.5% and condo volume was up 23.3%.

The number of properties sold in September was 806 which was 37 more than a year ago. The sales total included 548 houses and 258 condos.

The 2018 monthly year-to-date average for sold properties in Sarasota County is 1,055 whereas the 2017 monthly average was 966, a nice average monthly increase.

Of the closed sales in Sarasota last month 19 were for over $1,000,000, 4% of the total sales, 11 were houses and 8 were condominiums.

All cash sales in Sarasota continue to be strong with 36% of single-family and 54% of condo sales closed without a mortgage. By comparison, national all cash transactions were about 20% of total sales.

Listings that went pending the past month were 842 and increased by 205 transactions from the same month last year, with single-family growing 28.8% and condominiums up 17.8%.

Florida’s single-family pending sales also showed an incredible increase over Hurricane Irma affected September 2017 with 37.9% more single-family homes and 44.1% more condo contracts written compared to last year.

U.S. pending sales fell 1% compared to prior year.

For the first nine months of 2018 Sarasota has averaged 1,108 pending sales. The monthly average of pending sales in 2017 was 1,043 and in 2016 it was 1,005. This trend is important to watch as it tends to forecast sales activity in the 30-90 days ahead.

Prices

In September, Sarasota’s single-family homes were sold at a median price of $280,000. The 2017 monthly median price average for houses sold in Sarasota was $267,043, about a 5% increase.

In September, Florida median price for single-family homes was $251,610, a 4.9% increase over last year.

The national median price for existing homes grew by 4.6% to $266,500.

The condominium median sale price was $236,248 in September vs. $220,000 a year ago. The 2017 monthly median average was $225,585.

Median price for a Florida condo last month was $182,500, a 5.5% increase over September 2017.

U.S. median condo price grew 1.5% in September to $239,200.

The average sale price for houses sold was $355,485 vs. the past year’s monthly average price for houses sold of $370,708.

Sarasota’s condominiums sold for an average price in September of $311,829 vs. the 2017 monthly average price for sold condominiums was $362,378.

Overall properties sold for 95.3% of the list price, a consistent ratio on a regular basis. The 2017 average for all properties sold was 95.6% of list price at the time of contract vs. the original list price.

Inventory

Currently there is available inventory of 4,046 properties for sale in Sarasota County, there were 4,401 at the end of 2017, 4,595 at the end of 2016 and 3,598 at the end of 2015.

Of the available inventory for sale, 508 properties are listed for over $1 million or only 12%. 379 of the active $1m+ listings are houses and 129 are condominiums.

Sarasota County had 1,083 new listed properties in September. The local market averaged 1,147 new listings per month in 2017. Of the total new listings the past month, 63 properties were listed over $1,000,000, a small amount of the overall available inventory for sale.

As mentioned, inventories in The Sarasota Real Estate Market have fallen this year and are now just 3.8 months of single-family homes and 4.2 month’s supply of condominiums, both under the 6-month level considered a balanced market. The single-family months of inventory has been consistent all year while the condominiums months of inventory continues to have a slight decrease each month.

Florida currently has 3.9 months of single-family inventory, up 6.5% compared to last year, and 5.3 month’s supply of condominiums, up about 3% over last year and also close to a balanced market.

U.S. inventory of all housing types is sitting at 4.4 months of supply, up 4% from this time last year.

As always, I look forward to serving you, your family and friends with their real estate needs. It would be my pleasure to assist in reviewing your buying or selling needs and help to guide you to the best plan to achieve your goals.

The Moulton Sarasota Real Estate Report – August 2018

It’s Still a Seller’s Market – Get in on it!

For months now the Sarasota Real Estate Market has favored sellers. What does this mean and why is it important to bring into focus for my readers? As we near the start of our busier season – both from regional and out-of-town buyer prospects – the market is favoring sellers. With property sellers in the driver seat, especially in the luxury market, unless there is a considerable increase in listings, we expect to see a narrowing of list-to-sale price gaps, and also likely buyers who have been looking for some time move more swiftly on the best new listings that come online.

If you are a would-be seller, now is the time to get started. It can take weeks and even months to bring a property to market, as often some repairs and refreshing may be necessary, and with tight labor conditions there may be a delay in preparing your home to show at its very best. Our busiest showing months coincide with higher tourist seasons. And it is very common in the early fall months to have all-cash buyers in the market looking to make a purchase and close before the end of the year.

In reviewing last month’s Sarasota Real Estate sales reports, condominiums once again showed strong growth. However, for the first month in some time, pending sales (contracts signed but not closed) fell slightly against contracts signed the same month last year. In the single-family segment, pending sales fell more significantly. I would be remiss if I didn’t mention red tide and its possible effect on recent contract signing activity. Though red tide is not new, the media attention during this year’s event has reached the global marketplace, and may have a softening effect on our market for a few months.

Inventory, regardless of outside influencers such as red tide, the economy and politics, needs to grow to maintain our longtime growth trend. Unless our region sees meaningful increases in properties for sale, buyers may find little to choose from during our busiest time of year. There are ample ready, willing and able buyers seeking properties to absorb an increased inventory of homes for sale, and certainly strong consumer confidence that real estate is the best investment in the years ahead. Again, I remind any of my readers considering putting their properties on the market, now is a prime time to make this important decision.

Many of my subscribers are outside the Sarasota area. With decades of experience assisting clients from across North America, I have developed a great network of some of the best realtors. Let me know if you’re contemplating selling and I’ll help you find a professional to work with in your community.

And now for my report on August Sarasota Real Estate Market activity:

Sales

While single-family home sales softened in comparison to last year, condominium activity remained robust. With the addition of a number of high quality projects brought to market this year and selling at quick pace, it is clear that this segment has strong demand. My experience is that the buyers are in many cases moving from the keys, and also snowbirds making their first foray into semi-retirement with an eye on permanent residency here in the nest 5-10 years. The new 73-unit ultra-luxury Ritz Carlton Residences has just broken ground. I expect these stunning condominiums to sell quickly – should you have an interest in taking a look at the project before it is fully reserved/sold out, please let me know.

Total Sarasota Real Estate Market dollar volume of $376.4 million in August increased by $24.5 million from the prior year and increased $14 million from July.

Broken down, single-family sales were $274.5 million and condominium sales were $102 million.

Single family sales increased $11 million compared to the prior year, and condo sales were up $13.6 million from the prior year.

Florida’s single family sales volume grew 8.9% and condo volume was up 17.4%.

The number of properties sold in August was 1,031, which was 14 less than July and 38 more than a year ago. The sales total included 716 houses and 315 condos.

The 2018 monthly year-to-date average for sold properties is 1,086 whereas the 2017 monthly average was 966, a nice average monthly increase.

Of the closed sales in Sarasota last month 42 were for over $1,000,000, 4% of the total sales, 31 were houses and 11 were condominiums.

All cash sales in Sarasota continue to be strong with 34% of single-family and 53% of condo sales closed without a mortgage. By comparison, national all cash transactions were about 20% of total sales.

Listings that went pending the past month were 899 and decreased by 122 transactions from the same month last year. The majority of reduction occurred in the single-family segment, with just six fewer condo contracts signed.

For the first eight months of 2018 Sarasota has averaged 1,141 pending sales. The monthly average of pending sales in 2017 was 1,043 and in 2016 it was 1,005. This trend is important to watch as it tends to forecast sales activity in the 30-90 days ahead.

Prices

Median prices for all segments have grown near 10% over prior year and average prices are up more than 5% in the Sarasota Real Estate Market. With inventory remaining tight, this trend is expected to continue.

In August, Sarasota’s single-family homes were sold at a median price of $283,488. The 2017 monthly median price average for houses sold in Sarasota was $267,043, about a 6% increase.

In August, Florida median price for single-family homes was $254,290, a 6% increase over last year.

The national median price for existing homes grew by 4.9% to $267,300 – this was the 78th consecutive month of year-over-year price appreciation.

The condominium median sale price was $232,950 in August vs. $213,500 a year ago. The 2017 monthly median average was $225,585.

Median price for a Florida condo last month was $185,000, an 8.8% increase over August 2017.

U.S. median condo price grew 2% in August to $244,500.

The average sale price for houses sold in Sarasota was $383,488. The past year’s monthly average price for houses sold was $370,708.

Sarasota’s condominiums sold for an average price in August of $323,255. The 2017 monthly average price for sold condominiums was $362,378.

Overall properties sold for 95% of the list price, a consistent ratio on a regular basis. The 2017 average for all properties sold was 95.6% of list price at the time of contract vs. the original list price.

Inventory

As noted earlier in this report, we remain in a seller’s market. Inventory is just above last year’s level in both single-family and condominium segments. However in the luxury tier (above $1 million,) where the majority of my activity is, inventory is near its lowest level recorded in the last five years, dropping from a high of 30-months of inventory to today’s just 10-months, according to data tracker Trendgraphics. Again, this statistic should be an encouragement to would-be sellers as we enter our busier seasons ahead.

Currently there is available inventory of 4,020 properties for sale in Sarasota County, there were 4,401 at the end of 2017, 4,595 at the end of 2016 and 3,598 at the end of 2015.

Total available inventory in the Sarasota Real Estate Market has decreased by 16 listed properties from August and 149 more properties than a year ago.

Of the available inventory for sale, 499 properties are listed for over $1 million or only 12%. 376 of the active listing are houses and 123 are condominiums.

Sarasota County had 1,141 new listed properties in August. The local market averaged 1,147 new listings per month in 2017. Of the total new listings the past month, 45 properties were listed over $1,000,000, a small amount of the overall available inventory for sale.

Inventory of properties over $1 million has fallen in the last year with 6.5% fewer single-family homes and 12.1% less condos on the market.

As mentioned, inventories in The Sarasota Real Estate Market have fallen this year and are now just 3.9 months of single-family homes and 4.1 month’s supply of condominiums, both under the 6-month level considered a balanced market. The single-family months of inventory has been consistent all year while the condominiums months of inventory continues to have a slight decrease each month.

Florida currently has 4.0 months of single-family inventory, up 4.5% compared to last year, and 5.3 month’s supply of condominiums, close to the same as last year and also close to a balanced market.

U.S. inventory of all housing types is sitting at 4.3 months of supply, up from 4.1 months at this time last year.

The Sarasota Real Estate Market is on track for another healthy selling season. New building continues to help to ease the inventory shortage of high quality well-located existing homes and condominiums. Surveys of home builders suggest that their confidence in the market is strong and that the pace of new product that we’ve seen over the last year will continue.

In general, it’s hard to ignore the creeping up of interest rates and expectation of an acrimonious mid-term election ahead, which could cause some national real estate and investment market disruptions, but I feel that neither will have much effect on our local area’s housing industry. The positive GDP growth, low unemployment, small business optimism, consumer confidence and rise in household net worth all create a confluence of healthy factors allowing for real estate market stability in the months ahead.

As always, I look forward to serving you, your family and friends with their real estate needs.

Despite The Sarasota Real Estate Market being in the midst of the somewhat slower summer months, July kept with tradition and raised year-over-year pace. The majority of contracts are written in April-June for closings that occur in July, so July tends to remain active. All indicators showed positive results with sales growth, total volume up, price appreciation and contracts signed steady with last year, indicating the months ahead will continue to see healthy conditions.

Inventory of both existing single-family homes and condos continues to tighten, which is keeping upward pressure on prices. Both segments saw more than 8% growth in median prices last month. New listings have consistently fallen below sales this year and left us with only a 3.9 month supply of single-family homes and 4.1 months of condominiums, both well below the 6-month supply level assumed to indicate a balanced market between buyers and sellers.

New construction in the Sarasota Real Estate Market has been consistently bringing outstanding product to market and is helping to ease strong demand for housing in our region. Both in the urban areas as well as to the east have added wonderful communities. The quality, detail, amenities and beauty our local builders are offering in their new homes is giving even the most discerning buyers the chance to check off all the “covets” on their wish lists.

Since moving with my wife Katie into a beautiful condominium to enjoy the “downtown” lifestyle five years ago, we have not only seen incredible growth of both condo and apartment options, but also extraordinary demand for urban living. My clients from the keys as well as newcomers to the area see that Sarasota’s downtown corridor has become extremely attractive with its year-round performing arts, amazing variety of fabulous restaurants, and wonderful boutiques. The projects underway and still in design and approval stages will add some spectacular new options to consider. It would be my pleasure to speak with you, your family and friends about the exciting new and existing choices.

And now for my monthly statistical information. As always, I have analyzed a number of local, regional and national resources and present a compilation of my findings.

Sales

Total Sarasota Real Estate Market dollar volume of $362.5 million in July increased by $7 million from the prior year and decreased $95 million from June, which was expected as we get away from sales in season.

Broken down, single-family sales were $249.5 million and condominium sales were $113 million.

Single family sales decreased $6 million compared to the prior year, and condo sales were up $13 million from the prior year. Total sales volume increase a little over 2%.

Florida’s single family sales volume grew 9.8% and condo volume was up 9.6%.

The number of properties sold in July was 1,045, which was 137 less than June yet 56 more than a year ago. The sales total included 683 houses and 306 condos.

The 2018 monthly year-to-date average for sold properties is 1,094 whereas the 2017 monthly average was 966, a nice average monthly increase.

Of the closed sales in Sarasota last month 31 were for over $1,000,000, 3% of the total sales, 18 were houses and 13 were condominiums.

All cash sales in Sarasota continue to be strong with 33% of single-family and 57% of condo sales closed without a mortgage. By comparison, national all cash transactions were 20% of total sales.

Listings that went pending the past month were 998 and increased by 6 transactions from the same month last year.

Florida’s single-family pending sales were virtually equal to last year.

For the first seven months of 2018 we have averaged 1,176 pending sales. The monthly average of pending sales in 2017 was 1,043 and in 2016 it was 1,005. This trend is important to watch as it tends to forecast sales activity in the 30-90 days ahead.

Prices

In July, Sarasota’s single-family homes were sold at a median price of $280,750. The 2017 monthly median price average for houses sold in Sarasota was $267,043, about an 8% increase.

In July, Florida median price for single-family homes was $255,000, a 6.3% increase over last year.

The national median price for existing homes grew by 4.6% to $272,300 – this was the 77th consecutive month of year-over-year price appreciation.

New homes continue to sell for 20% or more over existing home prices.

The condominium median sale price was $232,000 in July vs. $215,500 a year ago. The 2017 monthly median average was $225,585.

Median price for a Florida condo last month was $180,000, a 5.3% increase over July 2017.

S. median condo price grew 3.2% in July to $248,100.

The average sale price for houses sold in Sarasota was $354,396. The past year’s monthly average price for houses sold was $370,708.

Sarasota’s condominiums sold for an average price in July of $331,241. The 2017 monthly average price for sold condominiums was $362,378.

Overall properties sold for 95% of the list price, a consistent ratio on a regular basis. The 2017 average for all properties sold was 95.6% of list price at the time of contract vs. the original list price.

Inventory

Currently there is available inventory of 4,036 properties for sale in Sarasota County, there were 4,401 at the end of 2017, 4,595 at the end of 2016 and 3,598 at the end of 2015.

Total available inventory in the Sarasota Real Estate Market has decreased by 137 listed properties from June and 136 less properties than a year ago.

Of the available inventory for sale 535 properties are listed for over $1 million or only 13%. 409 of the active listing are houses and 123 are condominiums.

Sarasota County had 1,134 new listed properties in July. The local market averaged 1,147 new listings per month in 2017. Of the total new listings the past month, 67 properties were listed over $1,000,000, a small amount of the overall available inventory for sale.

As mentioned previously in this report, inventories in The Sarasota Real Estate Market have fallen this year to just 3.9 months of single-family homes and 4.1 month’s supply of condominiums, both under the 6-month level considered a balanced market.

Florida currently has 3.9 months of single-family inventory, close to the same as last year, and 5.3 months of condominiums, which is 2.2% below prior year levels.

S. inventory of all housing types is sitting at 4.3 months of supply, about the same level as last year at this time.

Wishing all of my readers a wonderful late summer!

As always, I look forward to serving you, your family and friends with their real estate needs.

The Sarasota Real Estate Market has seen consistent price appreciation in the last several years. However, unlike some parts of the country that experience seasonal peaks and valleys, our region is one of the most stable of the high-demand communities that I keep an eye on. Seeing steady growth in home values, along with consistent inventory levels and sales growth has set our local real estate market on solid fundamentals, which will serve us well through the balance of our summer season.

Strong consumer confidence is driving steady demand from buyers for both existing and new homes. Home sellers are also feeling upbeat. A recent study found that many would-be sellers have decided to stay in place waiting to find just the right property, resulting in one of the longest average ownership periods in decades. The upside for sellers? Average return on investment has also grown – now said to be in excess of 30% for a home that has been owned eight years.

The most recent survey by the National Home Builder Association showed continued confidence from builders, despite some rising costs for materials and ever-present shortage of skilled labor. Median prices for new homes are averaging 15-20% higher than an existing home, which is a smaller gap than had been seen last year. The national supply of new homes is growing and is currently said to have 5.7 months of available inventory. However, it is important to note that the inventory count includes both completed and homes under construction.

The statistical information below is a compilation from a number of local, regional and national resources that I monitor every month to evaluate the market.

Sales

Total Sarasota Real Estate Market dollar volume of $457.5 million in June increased by $39.3 million from the prior year and decreased $10 million from May.

Broken down, single-family sales were $330 million and condominium sales were $127.5 million.

Single family sales increased $48 million or 17% compared to the prior year, and condo sales were down $6.6 million or 5% from the prior year.

Florida’s single family sales volume grew 6.3% and condo volume was up 10.9%.

The number of properties sold in June including both single family and condominiums was 1,182, which was 90 less than May and 27 more than a year ago. The sales total included 798 houses and 384 condos.

For the first six months of 2018 we have averaged 1,205 pending sales. The monthly average of new pending sales in the Sarasota Real Estate Market in 2017 was 1,043 and in 2016 it was 1,005. This trend is important to watch as it tends to forecast sales activity in the 30-90 days ahead.

Prices

In June, Sarasota’s single-family homes were sold at a median price of $279,500 vs. $275,000 a year ago. The 2017 monthly median price average for houses sold in Sarasota was $267,043 and in 2016 $249,943.

In June, Florida median price for single-family homes was $260,000, a 6.3% increase over last year.

The national median price for existing homes grew by 5.2% to $279,300 – this was the 76th consecutive month of year-over-year price appreciation.

The condominium median sale price was $221,250 in June vs. $215,500 a year ago. The 2017 monthly condominium median average was $225,585 vs. $208,539 in 2016.

Median price for a Florida condo last month was $190,000, a 7.5% increase over June 2017.

U.S. median condo price grew 4.9% in June to $258,100.

The average sale price for houses sold in Sarasota was $413,500 in June vs. $359,226 a year ago. The past year’s monthly average price for houses sold was $370,708 vs. $346,232 in 2016.

Sarasota’s condominiums sold for an average price in June of $332,009 vs. $362,344 a year ago. The 2017 monthly average price for sold condominiums is $362,378 vs. $325,802 in 2016.

Overall properties sold for at 95% of the list price, a consistent ratio on a regular basis. The 2017 average for all properties sold was 95.6% of list price at the time of contract vs. the original list price.

Inventory

Currently there is available inventory of 4,270 properties for sale in Sarasota County, there were 4,401 at the end of 2017, 4,595 at the end of 2016 and 3,598 at the end of 2015.

Total available inventory in the Sarasota Real Estate Market has decreased by 174 properties from May, and 70 less properties than a year ago.

Of the available inventory for sale 561 properties are listed for over $1 million or only 13%. 436 of the active listing are houses and 125 are condominiums.

Inventory of single-family homes for sale in the Sarasota Real Estate Market listed over $1,000,000 has fallen 5.2% compared to last year.

Luxury condos in the price tier declined more than 23%. The drop in condominium inventory at the higher price points was reflective of considerably fewer new properties coming to market in the last few months when compared to prior year new listings.

The Realtor Association of Sarasota-Manatee reports that there are 4.1 months of single-family homes inventory and 4.5 month’s supply of condominiums, both under the 6-month level considered a balanced market, and indicating that we are still in a seller’s market.

Florida currently has 3.9 months of single-family inventory, close to the same as last year, and 5.5 months of condominiums, which is 2.8% below prior year levels.

U.S. inventory of all housing types is sitting at 4.3 months of supply, about the same level as last year at this time.

Sarasota County had 1,134 new listed properties in June. The local market averaged 1,147 new listings per month in 2017 and in 2016 it was 1,005. Of the total new listings the past month, 74 properties were listed over $1,000,000 or only 6.5%.

Market experts continue to project housing market growth through the 2nd half of 2018. As noted earlier in this report, consumer confidence in the economy and strong employment numbers are fueling home buyer interest.

With the Sarasota Real Estate Market still well below the 6-month inventory level, presumed to be the sign of a balanced market, I expect our prices to continue their appreciation, albeit at a modest and sustainable pace. Our region remains fundamentally strong allowing for more growth in the months ahead.

Having assisted clients in the region for more than 35 years, I have the knowledge and experience to guide my customers through the complex process of searching for or marketing and selling a property in a relaxed and rewarding manner.

As always, I look forward to serving you, your family and friends with their real estate needs.

I cannot thank you enough for all your expertise, time and efforts extended to me in putting my property quickly under contract, Recommending you to future clients would be my privilege!

Elaine

From your recommendations on market properties and patience with our long process of identifying a suitable home that would meet our particular needs, to your great communications with us and attention to the details of finalizing the transaction, your services have been nothing less than excellent.

Brian and Debra Sauers

We appreciate all your aid for us in selling our Bird Key home. We were fortunate to have you as our realtor, and will highly recommend you to others.

Evelyn Morfee

My husband and I considered ourselves very fortunate when referred to Michael Moulton. Michael listened to each and every detail and performed beyond our expectations. Everything went seamlessly from touring homes and properties to the purchase of our retirement property. We would recommend Michael to anyone wanting expert advice in purchasing real estate.

Karen

Michael acted as our Sellers’ broker for my deceased mother-in-law’s estate. We just closed the sale for $2.5 mm. I am a retired attorney and have worked with R.E. brokers and on real estate matters many times. I generally have a somewhat jaded view about the value provided by commissioned brokers. Michael overcame my biases and completely earned the trust and appreciation of my wife and I. He was easy to work with, responsive and knew the market and best practices. We really appreciated that he was not “pushy” and we also liked his dry sense of humor. I will recommend him to any friends who need a broker in the Sarasota area in the future.

Mike VanSicklen

Professional through and through. Honest and sincere.

Jeff Azpell

He is very important to us as we are seeking a new residence. He knows the area well and has answered all our questions. We are grateful for all our visits and we will come again.

Constantine Mavroudis

I have only good things to say of Michael. He listened to my remarks and professionally and patiently gave choices which led to a purchase of a home that I really could enjoy. I would volunteer Michael’s name to anyone who is looking for real estate!

Mary Lee

Michael’s thorough knowledge of the Sarasota/Longboat Key markets and ability to quickly understand our needs meant that our time together was efficient and productive. His expertise helped us to negotiate a fair price and his follow through was excellent. We are delighted with our decision to purchase our new condominium and look forward to many happy years there, thanks to Michael’s time, effort, and professionalism.

Kate and Peter

Thank you for the superb job you did on the sale of our condo, and for the wonderful cooperation and patience you exhibited for both us as sellers and the buyers. We would highly and happily recommend you as a salesman to anyone looking for residential property on Longboat Key or in the Sarasota area.

Raymond and Martha Wile

We appreciated the exceptional and professional courtesies you warmly extended along the way to making our dream a reality.

Ann and Don Kelly

Mr. Moulton’s optimism and positive attitude were very encouraging to us during the entire time. I have never had such an outstanding experience with a realtor during the many transactions we have had over 30 years.

Amy

Michael has represented us in a number of transactions, primarily buying and selling condominium properties, and has helped to enrich our bottom line. His knowledge of the market and professionalism are second to none. He is patient, detailed, savvy, and a pleasure to work with and will always be our go-to realtor in Sarasota.

Margaret and Jeff

Thank you for your tireless efforts in getting my Dad’s house sold. You are a special person and I will always remember the role you played as I transitioned into my “next chapter.”

Lisa

We want to personally thank you for you work on helping us buy and sell in Longboat Key. Both transactions were complicated, but you really helped us get a great result across the board. Your advice was on point and timely, and we are happy with the outcomes. Thanks again for your effort; we both really appreciate the TLC.

Mary and David

You did an excellent job of marketing our home sale on Casey Key. You conduct yourself as a gentleman and business professional at all times in every situation. We always recommend you to all our friends and business associates.

George

Many thanks! You are to be commended for the fine job you did moving Mom’s home from listing to closing. It was a pleasure to work with you. I will gladly send referrals your way.

Gail

Your professionalism made the searching bargaining and closing processes seamless.

Sandy and Mike

You have been so on the ball, so helpful, so delightful to work with that I would unhesitatingly recommend you to anyone and everyone looking to buy or sell property in Sarasota.

Sara

You were a pleasure to work with and gave us a great education on the real estate market in this area.

Richard

It is no wonder the Michael Saunders & Company is so successful – your attention to detail, communication and follow-thru are exemplary.

Jim and Sherry

We would like to relay to you how impressed we were…professionalism, courteousness and friendly feeling were very gratifying.

Grace

I just wanted to drop you a line thanking you for handling the sale of our condominium at the Ritz-Carlton Towers. Your persistent showing of the unit and your attention to the details were a great help in selling the apartment.

Stephanie and Marvin

Just a note to say thanks for helping us sell our condo. We so much appreciate all your attention and help.

Laura, Eve and Curtis

Just wanted to say thanks so very much for all your hard work on our latest project. We/I really appreciate it; couldn’t have happened without you.

Christine

Now that the deed is done, Judy and I would be remiss if we did not convey our appreciation for your truly outstanding efforts in helping us sell our condo. Perhaps more important was your friendship and “hand-holding” over the months.

Judy

Fran and I would like to commend you on the professional handling of the listing and sale of our property. We especially appreciate the regular reports on showings. We look forward to working with you in the future.

W.R.K.

What is most appreciated is your kind, attentive and professional approach to helping us find the perfect condo – we are so happy with our new apartment.

Lois and Stewart

I want to thank you for assisting in the sale of my apartment. You and your team did a fine job, especially with the servicing of my apartment in my absence.

Shirley

We look at this as a gift from our friend, not just someone who just helped us buy a home.

John and Robin

Michael is an outstanding professional in every way. He is honest, smart, hard working, knowledgeable, experienced, thorough, thoughtful, and an excellent listener.